Murrey Math Lines 22.10.2018 (EURUSD, GBPUSD)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is consolidating. In this case, the price is expected to test the 5/8 level, rebounds from it, and then resume falling towards the support at the 3/8 one.
In the H1 chart, the scenario may be a bit different. Last Friday, the pair left the “oversold zone” and right now is expected to resume growing to reach the resistance at the 3/8 one.
GBPUSD, “Great Britain Pound vs US Dollar”
In the H4 chart, GBPUSD may break the 6/8 level and continue falling towards the support at the 4/8 one.
The lines in the H4 and H1 charts are completely the same and confirm the scenario described above.
In the M15 chart, the pair may break the downside line of the VoltyChannel indicator and, as a result, continue trading downwards.
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